The preparation of annual financial statements is a pre-requisite for any business that is actively operating. Financial statements report on your businesses financial status, they guide the management team on the overall performance of the business. You will need financial statement for filling of your annual tax returns with the South African Revenue Services, they are also a must have if you intend to raise capital from banks and investors.
Preparing the financial statement is a tedious task which needs meticulous processing of records of financial transactions, many of our clients find the cost and risk of doing this function in house is too great. We offer a full outsourced solution which adds real value and reduces stress, cost and the risk of misstatement.
We prepare financial statement in accordance with the latest accounting standards used in South Africa, they include:
- Standard of Generally Recognised Accounting Practice (GRAP)
- International Financial Reporting Standards (IFRS)
- South African Standards of Generally Accepted Accounting Practice (SA GAAP)
International Financial Reporting Standards for Small and Medium-sized entities (IFRS for SME’s)